The main news of this summer from the development sector for the Caribbean region is the beginning of the construction of a 5-star luxury hotel, InterContinental Grenada, authorized under the Grenada Citizenship for Investment program. The property is expected to open in 2025. InterContinental Grenada is being built by Range Developments, a leading developer of branded hotels in the eastern Caribbean, which are funded under the Citizenship by Investment program. The share in the InterContinental Grenada project is valued at US $220,000. This investment, together with mandatory government duties (request a full calculation from APEX), entitles the main applicant and his family to apply for Grenada citizenship and gain many benefits from owning a Grenada passport.
In mid-June 2022, it became known that absolutely all shares of the Six Senses La Sagesse project, which is already being built in Grenada by Range Developments, have been sold out. Immediately after, a new project was announced — InterContinental Grenada. For the developer, this will be the fourth project in the Caribbean region under the investment citizenship program. Range Developments’ flagship project, St. Kitts’ Park Hyatt, opened to guests on November 1, 2017.
This luxury resort has won numerous awards and received wide acclaim in international media. CNN recognized it as “The Best New Hotel in the Caribbean,” and Forbes called it a “huge Caribbean debut.” In October 2019, Range Developments opened Cabrits Resort & Spa Kempinski, Dominica. And Six Senses La Sagesse, according to the announced plans, will open in 2023.
Benefits of InterContinental Grenada project
The developer Range Developments makes a significant contribution to the preservation of the environment of the Caribbean region with its initiatives and creates prestigious resorts, provides jobs. The work of this company is highly appreciated by local authorities, so you can predict in advance the success of a new project — InterContinental Grenada. Moreover, the owner of the share will be able to withdraw from the investment after a 5-year period of holding a share in a worthy project.
IHG® Hotels & Resorts is one of the world’s leading hotel companies with over 6,000 open hotels in more than 100 countries. The 150-room InterContinental Grenada hotel will be built on La Sagesse Beach, approximately 30 minutes from the Maurice Bishop International Airport and the town of St. George’s. InterContinental Grenada Resort will be adjacent to Six Senses La Sagesse, Grenada, another Range Developments property and brand in IHG’s luxury portfolio, which is expected to open in 2023.
Benefits of Grenada Citizenship
Citizens of Grenada can visit 144 countries in a visa-free regime, including the Schengen zone, Great Britain (180 days a year, it is possible continuously), China (30 days without a visa), Russia. The main applicant (investor) in the application for Grenada citizenship can be joined by a spouse, children (under 30 years old — without educational requirements), parents, as well as siblings of the applicant (unmarried and without children).
Please note that citizens of Grenada, thanks to a special agreement between Grenada and the United States, can apply for a type E2 visa. However, this is a different investment story where you will need to invest in a business in the United States, according to the requirements established under the program.